Coinbase's Brian Armstrong predicted that Bitcoin could reach multiple million dollars in price over time. He also acknowledged that more institutions are adopting Bitcoin, which could raise its price to millions.
On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.
The Bitcoin price jumped 2% in the last 24 hours as this crypto wallet presale closes on the $8 million milestone.
Michael Saylor's Bitcoin strategy has attracted plenty of fanfare. Basically, MicroStrategy (NASDAAQ:MSTR) borrows money to buy more Bitcoin. The publicly-traded corporation currently owns about 2% of the world's total Bitcoin supply,
If you're a Coinbase user, you may be able to use the bitcoin you own as collateral to get a loan thanks to a new service launched Thursday. But the offering has its risks.
Furthermore, instead of issuing these loans on a blockchain even remotely related to Bitcoin (such as Bitcoin sidechains or Bitcoin L2s), Coinbase is issuing them through Morpho Labs, a DeFi platform best described as an AAVE competitor. While Morpho is a well-established platform—and I don’t doubt its security—it has no connection to Bitcoin.
Trump is also still expected to issue executive orders that will further promote Bitcoin adoption, Reuters and other media outlets have reported.
Coinbase's setup caps each borrow at $100,000 in USDC. To borrow that much money customers will need to post more than that amount of bitcoin. Morpho will start liquidating the collateral if the loan-to-value ratio flies too close to the sun.
At the World Economic Forum in Davos, industry leaders debated Bitcoin’s role as a reserve asset, the memecoin frenzy and crypto’s future amid Trump’s return to the Oval Office.
The cryptocurrency market is humming with changes as big players like Ethereum and Bitcoin undergo obvious changes. These top altcoins … Continue reading
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